{"id":1004491720,"date":"2020-11-10T09:30:28","date_gmt":"2020-11-10T17:30:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004491720"},"modified":"2020-11-10T09:48:50","modified_gmt":"2020-11-10T17:48:50","slug":"chicago-area-facility-changes-hands-for-21m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chicago-area-facility-changes-hands-for-21m\/","title":{"rendered":"Chicago-Area Facility Changes Hands for $21M"},"content":{"rendered":"<div id=\"attachment_1004491726\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/870-N-Arlington-Heights-Road-e1605026287764.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004491726\" data-attachment-id=\"1004491726\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/chicago-area-facility-changes-hands-for-21m\/870-n-arlington-heights-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/870-N-Arlington-Heights-Road-e1605026287764.jpg\" data-orig-size=\"382,286\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"870 N Arlington Heights Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;870 N Arlington Heights Road&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/870-N-Arlington-Heights-Road-e1605026287764.jpg?w=382\" class=\"wp-image-1004491726 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/870-N-Arlington-Heights-Road-e1605026287764.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/870-N-Arlington-Heights-Road-e1605026287764.jpg 382w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/870-N-Arlington-Heights-Road-e1605026287764.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004491726\" class=\"wp-caption-text\">870 N. Arlington Heights Road. <em>Image courtesy of&nbsp;Stan Johnson Co.<\/em><\/p><\/div>\n<p>Syndicated Equities has acquired a 50,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/life-sciences-real-estate-demand-thrives-cbre\/\">life science<\/a> and medical office building in Itasca, Ill., from developer Janko Group, according to Yardi Matrix data.<\/p>\n<p>The fully leased asset changed hands for $20.6 million. Yardi Matrix also shows the buyer financed the purchase with a $13 million loan from Old Second National Bank. Stan Johnson Co. negotiated on behalf of the seller.<\/p>\n<p>Situated on 6.1 acres at 870 N. Arlington Heights Road, the single-story building came online this August. The developer broke ground on the project in September 2019, financing the construction with a $13.6 million loan from Morton Community Bank. Designed by Wright Heerema Architects, the facility comprises a mix of traditional office space, compounding and specialty pharmacy spaces, walk-in freezers\/coolers and clean rooms. The tenant occupies the space under a new 15-year net lease with annual rent increases.<\/p>\n<p>The property is some 27 miles northwest of downtown Chicago just south of Illinois Route 390, with direct access to Interstate 290. O\u2019Hare International Airport is roughly 10 miles east.<\/p>\n<p>Stan Johnson Co.\u2019s John Zimmerman and Craig Tomlinson assisted the seller in the deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 50,000-square-foot building in Itasca, Ill., comprises both office and life science space.<\/p>\n","protected":false},"author":870,"featured_media":1004491726,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21825,21783,21754,13,21742],"tags":[42632,50614,32877,40062],"class_list":["post-1004491720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-finance","category-investment","category-medical-office","category-midwest","category-latest","tag-chicago-ohare-submarket","tag-craig-tomlinson","tag-stan-johnson-company","tag-wright-heerema-architects"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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